Currently BTCUSD is trading around $6330 and it's sitting on the top of two critical levels that were formed by historical lows. At the same time, we're also at the top of a channel formed by the lows and highs of the current downtrend we've been since May. This "double resistance" above, may cause a rejection that may put us back in the low 6Ks, or perhaps in the upper 5Ks in the next few days.
We've been seeing an increase in and "violence" in bounces and dumps, which quite often have formed long wicks above and below. This points out to an increase in the intensity in the struggle between bulls and bears, and for the first time in several months, the in pushes have been matching the in dumps, although, it's not quite there yet, it's definitely increasing. More than any other indicator, will be the one that tells us when the trend has really reversed.
As far other indicators, we have the in the overbought zone in the 1D chart, which is also pointing down in the short term. In the weekly chart, this indicator has been in the oversold zone for a several days, and while it could remain there for many more days, it's pointing to a potential strong push upwards at some point in the next couple of weeks.
While TA isn't a crystal ball, we can take that the next week or two will be very interesting, and it may be pointing towards a trend reversal, or at least an attempt to end this bear market.
Whatever the case, I wish all of you the best of luck in your trades.